Hi Amit, tell us about yourself, your background?
I have been in marketing for almost 7 years with a demonstrated history of working in the Tech Industry. Vast experience in strategic planning, defining go-to-market strategy, business management, and marketing, specializing in social selling and digital. Holding a Masters Degree (M.B.A.) from Ben Gurion University. Besides being a data-driven marketer, I love playing soccer with my friends, listening to music, reading news about the stock markets, and playing with my baby boy.
Online commerce was booming in 2020, and so did consumer reviews. – How can brands better utilize this data to improve their customers’ experience?
When looking at the online digital space and the eCommerce one, in particular, utilizing data is crucial. Besides the role that data plays in providing relevant promotions to users, utilizing data has a huge impact on the strategic level as well.
With the relevant data in hand, organizations can address the following questions easily:
How users actually see your product compared to your competitors?
What features should be improved in order to acquire a larger market share?
User preferences in different markets, how to “localize” your digital strategy to meet every market’s unique needs?
Moreover, Covid-19 made organizations shift their activity to the online space. Hence, the competition within the eCommerce space becomes more and more fierce.
What is one element that must always be considered when working on a CXM (customer experience management) strategy?
To have “true personalization” in place, organizations must use ALL their data from distributed sources. An eCommerce business that has an offline physical presence should be able to make a hybrid personalized approach to generate substantial revenue uplifts.
For example – If a person bought a shirt at the store, you want this data inserted into your transaction system immediately, then, with a data management platform, you will be able to utilize this data and match it with the user online record in order to engage with him via relevant channels. For example, you can raise a push notification with a personalized offer encouraging him to buy online as well. What will eventually increase the LTV of your buyers?
Do you think personalization and customer-centricity are going to become increasingly more relevant in the coming year? How so?
Organizations that will make the most out of their personalization strategy will be those that will eventually have a competitive advantage for the long term.
As we are all familiar with the rising user acquisition costs, true personalization is key for increasing retention and conversion.
For example – a person that abandoned his cart without making a purchase can do so for many reasons. As an organization, you have limited time to engage with him while he is still on your website, and you should reach FAST. Sending an email a day later will just not have the same impact as reacting in real-time.
Utilizing a customer-centricity approach meaning also engaging with your customers in the most relevant time with the most relevant offer.
Almost any organization uses the same or at least common practices when it comes to customer retention or conversion, which makes it difficult for them to differentiate, those that will embrace a customer-centric approach and will have the required technology to provide the relevant offer at the relevant time will gain a competitive advantage.
What are some of the ways companies can strive to eliminate the CX Gap?
Although it may sound cliché. Know your customers.
That is basically the most important thing, analyze their behavior on your website, understand on the strategic level – why are they buying your product? What pains does it solve? Is there a better or innovative way to approach them? How can you tell your story in the most convincing way?
Some organizations just “analyze” the data and hope for the best, but it isn’t enough anymore. You should “understand” what it actually, “tells” you.
For example – if you see that a certain promotion has worked pretty well in certain countries, but didn’t work so well in others, try to understand what your users seek to find there? Maybe there is a change that is required at the strategic level and the GTM? Not all solutions should be just promoting a different product or giving a certain discount.
What’s the most insightful book you read in 2020?
I read the book of Benjamin Graham, “The smart investor,” focused on best practices for investing in the Stock market. It may sound strange, but this book actually has a lot in common with “understanding” your customers’ approach, as it helps you gain skills for looking at a broader scope of why people invest in certain stocks, what external factors affect their decision, and so on? And more.
Amit’s predictions for the future of CX
What are your predictions for trends in customer experience in the coming year?
In 2021, it’s no longer enough to offer customers multiple disparate touchpoints. Instead, businesses must offer streamlined, personalized, and meaningful experiences across all channels to capture and retain loyal customers.
Last but not least, what is your favorite CX metric?
Customer satisfaction score (CSAT). When you actually ask your customers how satisfied, they are with the current product, experience, recent interaction with your brand.
By doing so, you learn not just about “data figures,” such as time on your website page, number of conversions, and so on, but their actual inputs and improve your product accordingly.
For example – “How satisfied are you with [this product or feature]?” The specific, contextual feedback that users provide in a survey helps to prioritize a roadmap of product improvements.